Brokerages predict that ServiceNow Inc (NYSE:NOW) will report $830.92 million in sales for the current fiscal quarter, according to Zacks. Eleven analysts have issued estimates for ServiceNow’s earnings, with estimates ranging from $826.49 million to $835.40 million. ServiceNow posted sales of $631.06 million in the same quarter last year, which suggests a positive year over year growth rate of 31.7%. The business is scheduled to report its next earnings results after the market closes on Wednesday, July 24th.
According to Zacks, analysts expect that ServiceNow will report full-year sales of $3.44 billion for the current fiscal year, with estimates ranging from $3.43 billion to $3.47 billion. For the next fiscal year, analysts expect that the business will report sales of $4.41 billion, with estimates ranging from $4.36 billion to $4.50 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover ServiceNow.
ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, April 24th. The information technology services provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The company had revenue of $788.93 million during the quarter, compared to analyst estimates of $768.09 million. ServiceNow had a negative net margin of 1.38% and a positive return on equity of 1.64%. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS.
NOW has been the subject of a number of recent analyst reports. Needham & Company LLC increased their target price on shares of ServiceNow to $267.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group lifted their price target on shares of ServiceNow from $242.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. ValuEngine downgraded shares of ServiceNow from a “strong-buy” rating to a “buy” rating in a report on Monday, June 3rd. Canaccord Genuity boosted their target price on shares of ServiceNow from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Piper Jaffray Companies boosted their target price on shares of ServiceNow from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $270.68.
In other ServiceNow news, insider Chirantan Jitendra Desai sold 1,563 shares of ServiceNow stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $266.00, for a total value of $415,758.00. Following the transaction, the insider now directly owns 32,824 shares of the company’s stock, valued at approximately $8,731,184. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic B. Luddy sold 22,000 shares of ServiceNow stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $291.33, for a total value of $6,409,260.00. Following the completion of the transaction, the director now directly owns 2,983 shares in the company, valued at $869,037.39. The disclosure for this sale can be found here. Insiders sold a total of 119,018 shares of company stock valued at $32,681,043 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Financial Gravity Wealth Inc. purchased a new position in shares of ServiceNow during the first quarter valued at approximately $25,000. Sandy Spring Bank increased its stake in shares of ServiceNow by 118.0% during the first quarter. Sandy Spring Bank now owns 109 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 59 shares during the period. Claybrook Capital LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $28,000. Next Capital Management LLC purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $32,000. Finally, Resources Investment Advisors Inc. purchased a new position in shares of ServiceNow during the fourth quarter valued at approximately $36,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of NOW traded up $0.45 during mid-day trading on Wednesday, hitting $298.47. 48,698 shares of the company’s stock were exchanged, compared to its average volume of 1,876,298. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.88. The firm’s fifty day simple moving average is $275.75. The firm has a market capitalization of $55.29 billion, a PE ratio of 1,492.35, a price-to-earnings-growth ratio of 21.72 and a beta of 1.33. ServiceNow has a twelve month low of $147.63 and a twelve month high of $299.12.
ServiceNow, Inc provides enterprise cloud computing solutions that define, structure, manage, and automate services for enterprises worldwide. The company offers information technology (IT) service management applications, as well as digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.
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